In the meta-space boom, Sequoia Capital has taken the lead by investing in a "DAO" project.

Distributed Autonomous Organization (DAO) refers to a group that governs and participates through smart contracts activated by the blockchain. Since smart contracts can work on their own in an emergency, participants believe that open smart contracts can make the organization transparent and everyone can see the organization's capital. It is obviously the ideal utopian world. The ideal is beautiful, but difficult to implement and the benefits are considerable. In 2016, the DAO used Ethereum smart contracts to break the blind spot of this “better world” for its members.

It was repeated in 2021, five years after the DAO disaster, but this time world number one. 1 venture capital firm, Sequoia Capital, joined, not the Ethereum organization. On December 8, Sequoia Capital announced that it had changed its Twitter profile to "Create DAO Legends and Help People Who Can Turn Their Ideas into Reality." “We help courageous people build legendary businesses, from ideas to IPOs. "

Duab Source : Rythme Blockbeats

Sequoia Capital was founded in 1972 in Silicon Valley, United States. As the first venture capital firm, it has invested in several new companies such as Apple, Google, Cisco, Oracle, Yahoo, LinkedIn, etc., and has local capital in the United States, China and India. . Sequoia Capital was named the first entity of the “2019 Hurun Global Unicorn Top 100 Active Investment Institutions” announced by the Hurun Research Institute on November 16, 2019.

Image source: Internet

In 2016, the promise of smart technology was still immature, and DAOs were quickly attacked by hackers and suffered great damage. The world's first CAD project failed. The “smart contract: rebuilding the social contract” defines this step as one of the three failures of smart contracts. The job isn't done, but the world isn't giving up on smart contracts for this reason and starting to learn more.

DAO returns in 2021. This world. After five years of research, two smart cards and blockchains worked well, and other technologies like Internet, Oracle, Metaverse, NFR, Artificial Intelligence, chips and other technologies were compromised, the code left all. The 'DAO' of 2021 is no longer the 'DAO' of 2016, but the difference. Although these technologies have been around for a long time, differences with CAD technology still exist.

DAO technology is still in its infancy, which is why Sequoia Capital is gaining ground. According to the Davido legislature of 1992, the emergence of new technologies around the world weighs half the market, the "DAO" market could represent billions of dollars, and Sequoia Capital has the "right of capital" to change.

I still think there will be an early failure of Sequoia's investment is high, but why? Failure is the mother of success. When others are dissatisfied, if you guess at yourself first, and if you are wrong, it can be beneficial for the advancement of science and technology. A small step in innovation, a big step for the world.